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Dec 31, 2012
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ben bernanke, chairman of the federal reserve. why, because he surrounded us with free money and his low interest rate policy triggered a stock market rally all year long, an economy that while moving slowly certainly showed growth throughout the year. bernanke's policies encouraged lending, it encouraged borrowing, and also told us that there are few alternatives with any returns for our money beyond stocks and housing. for all of that, ben bernanke is my pick for businessperson of the year 2012. that will do it for us for today. thank you of so much for joining me. next week we will coming to you with a brand new look and a brand new name. look for "on the money with maria bartiromo." i'll continue to be here with you, as will all of our great guests every week where wall street meets main street. happy new year, everybody. wish you the best for 2013. i'll see you next weekend.
ben bernanke, chairman of the federal reserve. why, because he surrounded us with free money and his low interest rate policy triggered a stock market rally all year long, an economy that while moving slowly certainly showed growth throughout the year. bernanke's policies encouraged lending, it encouraged borrowing, and also told us that there are few alternatives with any returns for our money beyond stocks and housing. for all of that, ben bernanke is my pick for businessperson of the year...
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Jan 3, 2013
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keep your eye on what the leadership, ben bernanke, janet yellin and bill dudley think. i don't think any of those guys are ready to take their foot off the accelerator yet. the key thing to remember is if a year from now the fed is realistically thinking of stopping the quantitative easing, it will be because the economy is doing what they want it to do. the economy will be growing 2.5%, to 3%, unemployment down to 6.5%, a really good scenario for the stock market, and they will not be worrying about the fed pulling back because the economy will be doing what they want it to do. >> greg, if there's any concern that markets should have, as you reiterate today, it's maybe more on the fiscal policy side of things and what's coming out of washington, not from ben bernanke but cap hill, and i was surprised to read your take comparing policy today is the equivalent of beirut in 1982. >> kelly, i don't mean that in a bad way. except for the bombs going off it's felt a bit like civil war on the fiscal front in washington for the last two months, two years actually, and the mark
keep your eye on what the leadership, ben bernanke, janet yellin and bill dudley think. i don't think any of those guys are ready to take their foot off the accelerator yet. the key thing to remember is if a year from now the fed is realistically thinking of stopping the quantitative easing, it will be because the economy is doing what they want it to do. the economy will be growing 2.5%, to 3%, unemployment down to 6.5%, a really good scenario for the stock market, and they will not be...
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Dec 31, 2012
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ben let me get to you first of all. what do you feel this means beyond just the market moves today, the emerging deal what does it mean for the markets once we crack into the new year? >> we knew they could do it, it just took a long embarrassing cost of our reputation in the world to get it done. with that being said, i think you mentioned the capping on the tax deductions. you want to keep an eye on the high end housing and the high end buildings. if that does come to fruition. but the whole tape is moving. apple in and of itself is moving the nasdaq today. that may be a function of the idea of the continuation of the tax benefits for writeoff in the business sector. people investing, businesses investing in technology to grow their business. so that would be the area that i think you're seeing the greatest impact. but the whole market is moving. the building stones of an economy, the basic material groups and the consumer spending is what is moving this market right now. >> jason lilly, based on what we know right no
ben let me get to you first of all. what do you feel this means beyond just the market moves today, the emerging deal what does it mean for the markets once we crack into the new year? >> we knew they could do it, it just took a long embarrassing cost of our reputation in the world to get it done. with that being said, i think you mentioned the capping on the tax deductions. you want to keep an eye on the high end housing and the high end buildings. if that does come to fruition. but the...
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Dec 31, 2012
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at this point ben bernanke isn't rumplestiltskin. even if this cliff deal is inacted, we'll say good luck in a month with the debt ceiling. in terms of the real economy and stocks, profits importantly have benefited tremendously in recent years from lower interest expense and low growth wage. so at some point the tail winds are going to end. >> you guys were expecting 5% in stocks for 2012, obviously the s&p 500 has done 11.5% heading into today with a whole slew of issues that have been facing us. has that surprised you what the market has been has resilient as it has been given a long list of laundry issues? it is not like your tune has changed here. you guys have been on the steady, more droward drum beat and they just have not panned out that way. >> well, we forecasted 5% in the bond market, although the total return fund is done 10% plus. the 10% plus in the stock market has come at the cast of ben bernanke and the check writing. to the extent that continues, you'll see money move out from bonds into risk assets and i think tha
at this point ben bernanke isn't rumplestiltskin. even if this cliff deal is inacted, we'll say good luck in a month with the debt ceiling. in terms of the real economy and stocks, profits importantly have benefited tremendously in recent years from lower interest expense and low growth wage. so at some point the tail winds are going to end. >> you guys were expecting 5% in stocks for 2012, obviously the s&p 500 has done 11.5% heading into today with a whole slew of issues that have...
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Dec 26, 2012
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quick silver, ben sherman. most people know ben sherman from charlie sheen, but they're flannel. >> i got a nano and i traded it in for an ipod. >> we are returning to gap and j. crew. >> you came out on december 26th to buy serving forks? >> no, i came out to go to banana republic, which, on their answering machine said they opened at 9:00, they lie and opened a at 10:00. >> just returning. >> you're not going to buy anything? >> i'm trying to be good. >> did you get any gift cards? >> no, i didn't. >> is the economy on your mind? >> constantly. >> does the economy weigh into that at all? >> absolutely. >> everybody said that except for jack carl who may be my favorite shopper i found today, dos last minute shopping the day after the last minute. >> what do you have? >> i have a movado watch i had sized for my wrist and i bought some perfume for my wife. >> so, you came here just to have the watch sized and spent more. with us that part of the plan? >> yes. no, no, the plan was to have the watch sized and then
quick silver, ben sherman. most people know ben sherman from charlie sheen, but they're flannel. >> i got a nano and i traded it in for an ipod. >> we are returning to gap and j. crew. >> you came out on december 26th to buy serving forks? >> no, i came out to go to banana republic, which, on their answering machine said they opened at 9:00, they lie and opened a at 10:00. >> just returning. >> you're not going to buy anything? >> i'm trying to be good....
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Dec 26, 2012
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ben, we could talk about lots of things. what are traders saying? >> already have. >> what's the buzz on the floor today? today everybody is talking about home so this holiday week, a slow week, another wasted clean shirt and bus fare. >> how are you trieding right now? >> the flow that you've seen trying to deflect the market, only a corner thumbprint to look at. energies right now are a plus side area and the negative side, you're seeing the consumer stocks under pressure because of the microsoft story and you and i have been of the same find on the fiscal climbed. you like this market, but we are getting close to the deadline. does it matter if we go past anyone? >> i think the market is saying we don't lead a lot mar. the market still expects that a deal will be done so that we'll get a patch, so to speak. this has been a good week. 80% of time this week is generally to the plus side. >> you'd still buy the dips here? >> yes. many shows have been on cnbc sending their own personal message to washington and starbucks has a quite unusual and vocal
ben, we could talk about lots of things. what are traders saying? >> already have. >> what's the buzz on the floor today? today everybody is talking about home so this holiday week, a slow week, another wasted clean shirt and bus fare. >> how are you trieding right now? >> the flow that you've seen trying to deflect the market, only a corner thumbprint to look at. energies right now are a plus side area and the negative side, you're seeing the consumer stocks under...
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Jan 2, 2013
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thanks, ben. see you later. we are going out, and we are very close to a 300-point gain, the best gain for the market in about four or five years with the dow up 296 points as we head towards the second hour. got wilbur ross joining us and more members of congress as well. stay tuned. >>> nearly a 300-point day on the dow jones industrial average. welcome to the "closing bell." i'm kelly evans in for maria bartiromo. bill griffith joins us here in just a second. stocks are kicking off 2013 with one of the biggest rallies we've seen in some time. the biggest, in fact, since 2009. here's a quick look at how we're finishing the day on wall street, waiting for the settle to come through to see if we can hit the three handle on the dow jones industrial average, but we won't be far away from it, regardless. the nasdaq is adding about 88 points, the s&p 500 and, bill, the bottom line, up anywhere from 2.4% to 3% for these averages. >> i'm looking at the board here in the new york stock exchange, and it shows we're up 3
thanks, ben. see you later. we are going out, and we are very close to a 300-point gain, the best gain for the market in about four or five years with the dow up 296 points as we head towards the second hour. got wilbur ross joining us and more members of congress as well. stay tuned. >>> nearly a 300-point day on the dow jones industrial average. welcome to the "closing bell." i'm kelly evans in for maria bartiromo. bill griffith joins us here in just a second. stocks are...
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Dec 28, 2012
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. >>> ben in pennsylvania. jim, i'm a new home gamer and a question regarding takeover bids. an i deal time when a company gets a takeover bid? i like to ring it immediately. immediately. because i am not an arbiter, and you shouldn't be either. we need to look for the next big win. tweets, this one fro from @kendoggie. i'm just starting a portfolio, better to buy one full position at a time or smaller amounts of all five at once? absolutely the latter, one of the things when are you just starting, i mean, it just happens to be the luck of the draw here. everybody just started immediately the first thought, went down very big this is an insurance plan against that happening to you. so no, i don't want you buying all at once. buy in stages. okay, this one from @motorrat. how do you determine target prices for action alerts.com portfolio. my charitable trust. stephanie link and i talk about it constantly. we try to figure out where we think the stock would be too expensive. peg ratio or price to earnings mobile ratio, and we are afraid we'll start giving things back. if the fun
. >>> ben in pennsylvania. jim, i'm a new home gamer and a question regarding takeover bids. an i deal time when a company gets a takeover bid? i like to ring it immediately. immediately. because i am not an arbiter, and you shouldn't be either. we need to look for the next big win. tweets, this one fro from @kendoggie. i'm just starting a portfolio, better to buy one full position at a time or smaller amounts of all five at once? absolutely the latter, one of the things when are you...
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Dec 28, 2012
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my friend ben willis, you've been one of the more optimistic traders on the floor, optimistic we'd get a resolution. willing to buy the dips and now this happened. >> the chart you just showed, mr. obama not buying anything newnew. anybody buying the dips had to puke them out. that's exactly what happened. professional traders, most of which have been in this week, most others on the sideline, you've bought vix protection, done pretty well as a helping but that's a great display of what happened. >> do you just not want to go into the weekend long, expecting a miracle? >> well, if i had to be forced in, forced into long positions on the selloffs on this kind of day i'd rather be long quite frankly than short against what might happen in washington. rather not have any position, but i'd rather be long than short. >> this has been a market that has shown resilience. >> right. >> with all the uncertainty out there to this point. could that change come monday if after the house meets on sunday night we still don't have a deal at that point? what do you think? >> being long is not a good po
my friend ben willis, you've been one of the more optimistic traders on the floor, optimistic we'd get a resolution. willing to buy the dips and now this happened. >> the chart you just showed, mr. obama not buying anything newnew. anybody buying the dips had to puke them out. that's exactly what happened. professional traders, most of which have been in this week, most others on the sideline, you've bought vix protection, done pretty well as a helping but that's a great display of what...
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Dec 27, 2012
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is she really sick or about avoiding ben gaz write? >> i'm not going to question her health. she has been sick for two weeks. missed the hearing on benghazi. view lot of republicans at capitol hill pressuring her. once she is well to come and testify about what happened in libya. >> is she one to back down from a situation like that? i don't think so. >> i doubt it. she sunday so much pressure that republicans now are even talking about postponing john kerry's nomination process for secretary of state until clinton testifies. this is going to be a real issue next month when congress is back. >> you could understand why she would be hesitant considering what happened with the previous person who was trying to be secretary of state. right? i mean, this is -- this is a minefield she walking into. >> what makes had situation so much -- there's been an independent report about what happened in benghazi. according to the report about the state department's actions will were systemic failure to republicans and democrats of capitol hill asking questions. what caused the systemic fail
is she really sick or about avoiding ben gaz write? >> i'm not going to question her health. she has been sick for two weeks. missed the hearing on benghazi. view lot of republicans at capitol hill pressuring her. once she is well to come and testify about what happened in libya. >> is she one to back down from a situation like that? i don't think so. >> i doubt it. she sunday so much pressure that republicans now are even talking about postponing john kerry's nomination...
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after the government per se a bit when there were tax issues, all av d avoided by the current chairman ben bernanke, and even though he avoids the conversation, he doesn't avoid giving congress the biggest fire hose in the world filled with free water. >> i love those kind of fire hoses on every corner, please. >> what's that, david? >> bernanke is the most aggressive fed governor we will ever know in the last 40 or 50 years with the monetary stimulation that began in november 2008. >> well her, needed to be? >> and that's likely to still be the only game in town in the face of just fiscal irresponsibility. >> in light of a digs functional congress and no fiscal direction coming from washington in terms of the capitol or the white house, you needed a more aggressive fed chairman, didn't you, david? >> absolutely, you do, and he's the best student of history for this type of situation. i worry two or three years down the road when he has to unwind it, when this record monetary stimulation could ultimately be inflationary, but that's not anywhere in the cards for the next 12 to 18 months. >>
after the government per se a bit when there were tax issues, all av d avoided by the current chairman ben bernanke, and even though he avoids the conversation, he doesn't avoid giving congress the biggest fire hose in the world filled with free water. >> i love those kind of fire hoses on every corner, please. >> what's that, david? >> bernanke is the most aggressive fed governor we will ever know in the last 40 or 50 years with the monetary stimulation that began in november...
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Jan 2, 2013
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. >> i think we should call it the ben rally here. >> i'm not going to take any credit for this. >> pulled you in. >> first time you've been in from london in a while and you get a rally, coincidence. i think not. let me show you what's happening as we go out. coming out with a gain of 286 points on the dow right now. that's the high for the session, but even stronger, as kelly was pointing out earlier, the technology stocks are powering the nasdaq higher so the dow is up 2.18%. the nasdaq is up almost 3% at this point. what about the fear indicator vix has had its biggest two-day decline now in a few years. it's down another 18% today at 1477. what's powering us higher here? among the s&p sectors, technology. look at, that kelly, up 3% almost on that. the financials, the telecoms. >> look at telecoms up 3%, and we're just seeing the s&p at session highs, 1458. those are the levels to watch. so we're at highs much earlier in the day at 10:00 and now as we enter the final minute of trade, back testing those levels. >> look at this. you know. all of the sectors are higher, and appreciably hi
. >> i think we should call it the ben rally here. >> i'm not going to take any credit for this. >> pulled you in. >> first time you've been in from london in a while and you get a rally, coincidence. i think not. let me show you what's happening as we go out. coming out with a gain of 286 points on the dow right now. that's the high for the session, but even stronger, as kelly was pointing out earlier, the technology stocks are powering the nasdaq higher so the dow is...
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number two, i think ben bernanke's foot is a lot heavier in the acceleration race to the bottom as it relates to currencies. and number three, some of us are old enough to remember the por porche/wo porche/volumings wallen deal. >> vtg. this was an $8 stock in 2008 and i think it has the ability to go back there, based on the value of its land. >> okay. got your first move tomorrow when we come back. stay tuned. we're all having such a great year in the gulf, we've decided to put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and all of us who call the gulf home. so why exactly should that be of any interest to you? well, in that time there've been some good days. and some difficult ones. but, through it all,
number two, i think ben bernanke's foot is a lot heavier in the acceleration race to the bottom as it relates to currencies. and number three, some of us are old enough to remember the por porche/wo porche/volumings wallen deal. >> vtg. this was an $8 stock in 2008 and i think it has the ability to go back there, based on the value of its land. >> okay. got your first move tomorrow when we come back. stay tuned. we're all having such a great year in the gulf, we've decided to put...
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Jan 2, 2013
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welcome, ben bernanke. like dan the man and myself, we're going to be looking at that participation rate. i don't think ben's going to want the lower rate to be driven by issues that are economically sound. >> i think you're right. the one thing you have to pay attention to, what if we start stronger numbers. >> i hope unemployment goes down, participation rate goes up. now, i'm going to hit in another arena. i love simon and simon was given one of the republicans a hard time. and i understand that. hey, where was the entitlement reform? where was the media asking about it last night? >> we hadn't heard anything. >> these fiscal conservatives, maybe they're not as good as the president. they are the best. at playing political chess. >> yes, they are. >> it just unfortunate there's very little correlation between winning the chess game of politics and winning what's best for the country. >> you win a battle here, but what about the long-term war here? >> they're not winning anything right now. i'm so disgust
welcome, ben bernanke. like dan the man and myself, we're going to be looking at that participation rate. i don't think ben's going to want the lower rate to be driven by issues that are economically sound. >> i think you're right. the one thing you have to pay attention to, what if we start stronger numbers. >> i hope unemployment goes down, participation rate goes up. now, i'm going to hit in another arena. i love simon and simon was given one of the republicans a hard time. and i...
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ben white of morning money, dennis, said an excuse to get a bic can keeney on the cover. >> relatively slow news day. what geithner did yesterday is almost as if he is strapping a damsel in distress to the tracks and saying the stakes are rising higher. the markets are taking all this tension, all this sort of -- these things at stake to really make the point perhaps that you have to have those stakes really high for people actually to get a deal. >> on "fast" last night when that letter crossed in the green rooms, we were chatting, we said this sounds like a ploy on the part of the treasury to actually get people to start moving. obviously, there wasn't a market selloff, did have the stumbling blocks and traders on friday said almost better if we did see the markets pull back more to crystallize what this could mean for the u.s. economy to members of congress. we didn't see that. it is a numbers game though in terms of what will happen. we know need 60 votes to clear a fill buster in the senate. seven republicans need to go along a lot of jockeying that needs to be done, even if we ha
ben white of morning money, dennis, said an excuse to get a bic can keeney on the cover. >> relatively slow news day. what geithner did yesterday is almost as if he is strapping a damsel in distress to the tracks and saying the stakes are rising higher. the markets are taking all this tension, all this sort of -- these things at stake to really make the point perhaps that you have to have those stakes really high for people actually to get a deal. >> on "fast" last night...
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Dec 26, 2012
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if ben bernanke gets his way, it will get there. >> it went from 200 to 1,800 knowing what bernanke was going do. but you're right because it's a beg thy neighbor. everybody is printing -- >> at the core of what the fed is trying to do is phillips curvean in that they're trying to trade short-term gains in unemployment for modest upticks in inflation. if they get their way, presumably the gold bowls will come back out of the woodwork. >> if it goes from 200 to 1, 800, it's anticipated. >> how much did that suit cost? >> not very much. tie's a different story. >> not $1,800? >> no, not $1,800. >> you should be able to buy a suit for an ounce of gold. that's always been the -- >> i was not aware of the suit-to-gold ratio. >> suit-to-gold ratio. you -- never, never been your -- >> suits -- >> you've always need good five or six troy ounces to buy -- >> you buy a brioni suit, can you pay in gold bars? >> that's how i usually do. it. >>> real quick, boxing day according to wikipedia, traditionally the day following christmas when servants and tradesmen would receive gifts from their supervis
if ben bernanke gets his way, it will get there. >> it went from 200 to 1,800 knowing what bernanke was going do. but you're right because it's a beg thy neighbor. everybody is printing -- >> at the core of what the fed is trying to do is phillips curvean in that they're trying to trade short-term gains in unemployment for modest upticks in inflation. if they get their way, presumably the gold bowls will come back out of the woodwork. >> if it goes from 200 to 1, 800, it's...
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. >> that's the question people have been asking, value investors since ben graham created the field. the answer is, there's no identifiable catalyst. the beauty of value investing is you buy something less than its intrinsic value, and eventually that value gets realized. it just can't see what's going to make it happen up front. >> charles, david, thank you guys. talk to you soon. >> thank you for having me. >> we take you live to the nymex to find out exactly what is behind the $2.45 move. that is a big move. for a number of shoppers, post-christmas rituals include, of course, gift cards today. and many unhappy returns. up next, jane wells will be with us in l.a. with the lowdown. good morning. >> hi, simon. yeah, you were just talking about it a little bit. there's been this transition from my generation, yes, i'm old, i like to gift, even if i don't like it, to my kids, 20, 22, they just want gift cards they don't care about the thought. give them the money. and is it enough to save christmas. we'll have that after the break. >>> welcome back to "squawk on the street." i'm bertha
. >> that's the question people have been asking, value investors since ben graham created the field. the answer is, there's no identifiable catalyst. the beauty of value investing is you buy something less than its intrinsic value, and eventually that value gets realized. it just can't see what's going to make it happen up front. >> charles, david, thank you guys. talk to you soon. >> thank you for having me. >> we take you live to the nymex to find out exactly what is...
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Jan 3, 2013
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you bring up like argo and it's like ben affleck is a moron. i don't know anything he's ever done. we have a hard time communicating. >> you could do a weekly tutoring session for both of us? >> absolutely. that's our service. first of all it's not just me. i have an entire team and i hire somebody for each vertical. i have my tech guy, even though i'm saying that tech -- >> will you tell chauncey gardner is that not the greatest? >> absolutely. as brian grazer taught me, that is a movie bhaners. >> it's the greatest. >> and we had a money manager on who had never seen it and he started telling us that -- >> i had no idea. >> the stock market is like a garden. you need to grow -- i said you're joking, right? this guy. he had never seen it, either. >> right. >> so i need -- we need somehow -- >> but that is part of my -- >> he's going to let us talk like we're contemporaries instead of father -- grandfather and son. >> again, i'm trying to say that andrew and i are from similar generations. >> maybe you could come on -- can you read the teleprompter? >> i've been trained, yes. >> we
you bring up like argo and it's like ben affleck is a moron. i don't know anything he's ever done. we have a hard time communicating. >> you could do a weekly tutoring session for both of us? >> absolutely. that's our service. first of all it's not just me. i have an entire team and i hire somebody for each vertical. i have my tech guy, even though i'm saying that tech -- >> will you tell chauncey gardner is that not the greatest? >> absolutely. as brian grazer taught...